ReMS

Rashtriya e-market Services Ltd. (ReMS), a
joint venture between The State Government of Karnataka and NCDEX
e-Markets Limited (NeML), was incorporated in January 2014 under
Public Private Partnership. With this Karnataka became the first
state in India to successfully implement the UMP

Over 170 plus mandis in Karnataka have implemented the UMP
with the help of ReMS. ReMS provides online access to all
participants in the APMC markets in the state holding the unified
market license from the state government.

The main aim of the UMP was to implement the State's new
agricultural marketing policy & to bring in efficiency and
transparency in the agricultural marketing system for efficient
price discovery to benefit farmers and other market participants.

Beneficiaries from this initiatives have been
mention in an Impact Study titled “Benefits from the NCDEX
Platform to Primary Markets in Karnataka. Some of the benefits
are mentioned below:

Farmers have started getting better prices for their
produce.

Farmers say that the price discovery is transparent now.

Farmers and traders have become familiar with computers
and online auctions.

Farmers have greater bargaining power over traders.

Farmers have better understanding about banking.

Direct electronic fund transfer from buyer to seller.

Maintenance of mandi trading records has become
computerized.

APMC revenue has increased due to online transactions.

Karnataka Chief Minister said it would be a step to empower
farmers. Licensed traders could bid online from anywhere in India
and farmers would have the right to accept or reject the price.
This will led to "scientific" price discovery by the farmers
themselves, breaking the hold of middlemen.